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Saskatoon, Saskatchewan Real Estate Update for April 2010

By
Real Estate Agent with Royal Lepage Saskatoon Real Estate

The average selling price of a home in Saskatoon reached nearly $300,000 in April, new figures from the Saskatoon Region Association of Realtors (SRAR) show.

With an average residential selling price of $299,214 -- nine per cent higher than last April's average price of $275,586 -- SRAR says 372 houses were purchased last month, up from 352 homes in April 2009.

SRAR has calculated that year-to-date, the average selling price for a home in Saskatoon works out to $287,722 -- five per cent higher than the first four months of last year. The number of homes sold through April this year is 1,147, again an increase from the same period in 2009 when 1,056 homes had been sold.

The number of houses on the market is also up, the association reported Monday, with 1,258 Saskatoon homes available to purchase at the end of April. Local Realtors saw a 13 per cent rise in listings last month, growing to 784 properties from 693 last year.

While all housing statistics in the city rose in April, communities surrounding Saskatoon saw mixed results, SRAR reported.

Unit sales outside of the city rose 39 per cent to 115 properties compared to April 2009. At the same time, the average selling price of these homes dropped 10 per cent last month to $233,792 from $260,956.

The drop in price, the association explained, indicates more properties selling in the lower- to mid-price range in outlying communities.

Still, the association says the real estate market both in and outside of the city is expected to stay stable through the remainder of the second quarter. A balanced market with sufficient inventory available for buyers along with high consumer confidence and steady interest rates are creating a vibrant market, SRAR said.

Including the $111.3 million worth of residential real estate sold in April, local Realtors have sold more than $330 million in homes so far this year -- a figure up 14 per cent from 2009.

Check out www.saskatoon4sale.com for current listings in Saskatoon.

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Check out www.saskatoon4sale.com for additional info and listings in Saskatoon, Saskatchewan, Canada or call John Pearce direct at (306) 880-0946

Comments (2)

Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Mike,

Thanks for the information. This is interesting to find that the province has had such an interest in real estate over the past year.

Brian

May 05, 2010 01:06 AM
John Pearce
Royal Lepage Saskatoon Real Estate - Saskatoon, SK

We are The place to live in Canada. Its a beautifulcity with wonderful friendly people. Our real estate market has not had the same pressures as some of the larger centres, and therefore we do not always see wide fluctuations like the major cities do.

May 06, 2010 11:57 AM